India, Oct. 7 -- MRVL stock jumped sharply on Tuesday, October 6, after Marvell Technology unveiled a significantly more ambitious long-term revenue outlook, fueled by strong demand for custom chips and infrastructure supporting artificial intelligence data centers.

Marvell Technology has raised its fiscal 2028 revenue forecast to approximately $20 billion, above the roughly $18.2 billion expected by Wall Street, according to Reuters. The semiconductor company also said it expects fiscal 2031 revenue to reach between $70 billion and $90 billion, with an $80 billion midpoint.

The announcement came during Marvell's Investor Day in New York, where the company outlined its longer-term strategy for benefiting from expanding AI infrastructure...